DeFi & NFT
By Maheen Hernandez
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Shiba Inu (SHIB) has been showing signs of a potential massive rally, with technical analyst Javon Marks forecasting a 528% surge in price. While SHIB currently trades at $0.
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According to Marks, the cryptocurrency coin is poised to reach $0.000081, driven by its technical setup and ongoing accumulation patterns.
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SHIB’s price is currently hovering around the $0.00001290 mark, with analysts viewing this as a potential base for further upside.
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A key factor behind the bullish outlook is the hidden bullish divergence forming on SHIB's chart.
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With SHIB holding above the breakout level and forming higher lows, the technical positioning looks strong.
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Long-Term Holder Growth Supports Stability
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On-chain data from IntoTheBlock further supports the positive outlook for SHIB. The number of long-term holders—those who have held SHIB for over a year—has steadily increased…
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This trend is particularly significant because long-term holders tend to reduce selling pressure, which helps maintain stability in the market.
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Additionally, cruisers—holders with a holding period of one to twelve months—have grown by 3.15%.
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SHIB’s Token Burn Activity Boosts Bullish Sentiment
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Another key factor contributing to the bullish sentiment around Shiba Inu is its increasing token burn activity.
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The burn mechanism helps reduce SHIB's circulating supply, which, when combined with consistent demand, can lead to upward price movement.
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While Shiba Inu’s price has recently experienced some volatility, technical analysts are increasingly bullish, with expectations of a 528% price surge.
The Currency Analytics
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